Friday, 14 July 2017 10:38

Redflow boosting coffers with $14.5 million capital raise

By
Simon Hackett, Redflow Simon Hackett, Redflow

Australian battery company Redflow is raising $14.5 million in capital to fund sustainable delivery of its zinc-bromine flow batteries to high demand areas such as telecommunications.

Redflow’s capital-raising follows its May announcement of decisions from a strategic review, including prioritising sales to supply proven demand areas including mature telecommunications/industrial/commercial, remote/off-grid power and "weak-grid" market segments.

The company has also announced it will be transitioning battery production to South East Asia at a more appropriate manufacturing site to leverage proximity to proven markets and reduce supply chain costs, implementing a range of key battery cost-down projects to reduce delivered product manufacturing cost by at least 30% over the next 18 months, and targeting sustainable cashflow-positive operations by the end of 2018.

Redflow (ASX: RFX) executive chairman and chief executive Simon Hackett said the strategic review had determined the best forward operating stance for the company.

“We have identified that the telecommunications sector has a strong, proven and ongoing demand for energy storage that fits the ‘sweet spot’ of Redflow’s unique value proposition. In May, Redflow recorded its largest sale to date, to an energy systems integrator working in the telecommunications and network power sector.

“At the same time, Redflow will continue supplying into its ZCell residential battery sales channel which is delivering our compelling energy storage solution for residential and SOHO customers, especially those located in off-grid areas or warm climates.”

Redflow chief operating officer Richard Aird said the process of disengaging from the company’s former manufacturing location was substantially complete.

“The activities Redflow is undertaking to transition manufacturing and to implement key product cost-down projects are critical to the future success of the company,” he said.

“Product deliveries will continue from built-up stock-on-hand and stock in transit ahead of the planned resumption of manufacturing in South-East Asia toward the end of this calendar year. Redflow staff are keen and committed to achieving the steps needed to maximise our prospects of future success.”


Subscribe to ITWIRE UPDATE Newsletter here

Now’s the Time for 400G Migration

The optical fibre community is anxiously awaiting the benefits that 400G capacity per wavelength will bring to existing and future fibre optic networks.

Nearly every business wants to leverage the latest in digital offerings to remain competitive in their respective markets and to provide support for fast and ever-increasing demands for data capacity. 400G is the answer.

Initial challenges are associated with supporting such project and upgrades to fulfil the promise of higher-capacity transport.

The foundation of optical networking infrastructure includes coherent optical transceivers and digital signal processing (DSP), mux/demux, ROADM, and optical amplifiers, all of which must be able to support 400G capacity.

With today’s proprietary power-hungry and high cost transceivers and DSP, how is migration to 400G networks going to be a viable option?

PacketLight's next-generation standardised solutions may be the answer. Click below to read the full article.

CLICK HERE!

WEBINAR PROMOTION ON ITWIRE: It's all about webinars

These days our customers Advertising & Marketing campaigns are mainly focussed on webinars.

If you wish to promote a Webinar we recommend at least a 2 week campaign prior to your event.

The iTWire campaign will include extensive adverts on our News Site itwire.com and prominent Newsletter promotion https://www.itwire.com/itwire-update.html and Promotional News & Editorial.

This coupled with the new capabilities 5G brings opens up huge opportunities for both network operators and enterprise organisations.

We have a Webinar Business Booster Pack and other supportive programs.

We look forward to discussing your campaign goals with you.

MORE INFO HERE!

BACK TO HOME PAGE
Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

Share News tips for the iTWire Journalists? Your tip will be anonymous

WEBINARS ONLINE & ON-DEMAND

GUEST ARTICLES

VENDOR NEWS

Guest Opinion

Guest Interviews

Guest Reviews

Guest Research

Guest Research & Case Studies

Channel News

Comments